bout right…all the peasants got was laid off
JCPenney's top execs get big bonuses after company furloughs majority of its associates
As part of the plan, Jill Soltau, chief executive officer (CEO) of the company received $4.5 million. Separate payments of $1 million were also awarded to Bill Wafford, executive vice president and chief financial officer, Michelle Wlazlo, executive vice president and chief merchant, and Brynn L. Evanson, who is also an executive vice president at the company as well as chief human resources officer.
“As a condition to receiving an award under the PCP each recipient must agree to waive his or her right to participate in the company’s fiscal 2020 annual bonus plan and/or receive any long-term incentive awards for fiscal 2020, as well as forfeit all of his or her outstanding equity, equity-based or other long-term incentive awards," the company said.
The company said the executives will have to repay 80 percent of the bonuses if he or she is fired for “cause” or resigns without “good reason” before the end of next January. They also said 20 percent of the award “is subject to repayment if specified milestone-based performance goals are not achieved.”
https://thehill.com/policy/finance/497880-jcpennys-top-execs-get-big-bonuses-after-company-said-it-would-furlough?